DuPont ahead of earlier forecast

Sales and earnings for DuPont's agriculture and nutrition business in 2007 are expected to exceed the 10% growth forecast in August. The business has "outstanding short- and long-term prospects", segment vice-president Erik Fyrwald told investors in December. It expects to post "double-digit earnings growth through the foreseeable future", Mr Fyrwald noted.

 

International sales by DuPont seed subsidiary Pioneer Hi-Bred International are set to rise by over 25% to $1,300 million this year, a $100 million improvement over earlier forecasts. The company points to "unprecedented" market share gains of more than five percentage points in the Brazilian maize seed sector, with volumes up 25%.

 

Commercialisation of DuPont's new insecticide, Rynaxypyr (chlorantraniliprole), is "ahead of schedule", with the first sales being recorded in the Philippines, Indonesia and Romania this year. The insecticide received its first global registration, as Prevathon, in the Philippines. The company hopes to achieve 25% of its target country registrations, including the US, in 2008, with 80% expected by the end of 2009. Annual sales are forecast to exceed $100 million by 2010 and $200 million by 2012.

 

DuPont/Pioneer's genetically modified herbicide-tolerant Optimum GAT soybeans and maize remain on track for commercialisation in 2009/10, subject to regulatory approvals and successful field trials. The company hopes to receive US cultivation and overseas import approvals for Optimum GAT soybeans in 2008/09, with Optimum GAT maize being generally a year behind. However, import approvals for the latter are not expected in the EU and China until 2011/12, said Dr John Bedbrook, vice-president of research and development for DuPont's agriculture and nutrition business.

 

The planned "aggressive launch" of Optimum GAT maize means that it will be the "fastest trait launch in the industry's history", Dr Bedbrook maintained. Optimum GAT will be the first maize to provide tolerance to herbicides with three different modes of action: glyphosate, glufosinate-ammonium and acetolactate synthase (ALS) inhibitors. Optimum GAT maize will also have a full range of insect control traits, Dr Bedbrook added.

 

The company plans to add to its Herculex range of insect-resistant maize. A twin-trait version of Herculex, with two modes of action against lepidopteran pests, is due to be introduced in combination with the corn rootworm-resistant Herculex RW in 2010. It is working with the US EPA in an effort to reduce non-GM refuge requirements so as to simplify compliance with resistance management programmes, Dr Bedbrook noted.